Cracker Barrel Earnings: CBRL Stock Falls 3% Despite Q4 Beats

Cracker Barrel (NASDAQ:CBRL) earnings for the fourth quarter of fiscal year 2020 have CBRL stock ticking lower on Tuesday. This comes despite the company reported adjusted earnings per share (EPS) of $1.05, which crushed Wall Street’s estimate of a $1.05 loss. Also, Cracker Barrel’s reported revenue of $495.07 million is above analysts’ estimate of $478.63 million for the quarter.

Cracker Barrel Old Country Store sign on the outside of one of its locations

Source: Jonathan Weiss /

Moreover, the company reported GAAP EPS of $1.06 for the period.

Now, let’s take a closer look at the most recent Cracker Barrel earnings report.

  • Adjusted per-share losses are 61% worse from EPS of $2.70 during the same time last year.
  • Revenue comes in 37% lower than the $787.1 million from the fourth quarter of 2019.
  • Operating income of $40.08 million is a 50% decline year-over-year from operating income of $79.37 million.
  • The Cracker Barrel earnings report also includes a net income of $25.07 million.
  • That’s a 61% drop from the company’s net income of $65.03 million in the same period of the year prior.

Sandra B. Cochran, president and chief executive officer of Cracker Barrel, said this in the earnings report:

“Throughout the quarter, we continued to take decisive actions to ensure the health and safety of our guests and employees, strengthen our business model, and bolster liquidity. I am encouraged by our sales recovery, and I am pleased with both the progress we have made on key initiatives and with how well our teams have continued to manage our business under changing and challenging circumstances. Our actions have put us in a position of financial strength which will allow us to invest in initiatives that we believe will drive long-term value creation for our shareholders.”

Cracker Barrel said in its earnings release that it is not including guidance for FY2021 due to the effects of the novel coronavirus. That said, we know what Wall Street is looking for. Analysts are calling for EPS of $4.80 on revenue of $2.8 billion.

CBRL stock was down 2.7% as of Tuesday morning.

On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

Nick is a web editor at InvestorPlace.

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